Kendall Capital Management Has $1.10 Million Stock Position in Permian Resources Corporation $PR

Kendall Capital Management raised its stake in Permian Resources Corporation (NYSE:PR) by 106.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 78,485 shares of the company’s stock after acquiring an additional 40,385 shares during the quarter. Kendall Capital Management’s holdings in Permian Resources were worth $1,101,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Curated Wealth Partners LLC boosted its holdings in shares of Permian Resources by 1.1% during the fourth quarter. Curated Wealth Partners LLC now owns 70,601 shares of the company’s stock worth $991,000 after acquiring an additional 747 shares during the period. Chilton Capital Management LLC increased its stake in shares of Permian Resources by 3.5% during the third quarter. Chilton Capital Management LLC now owns 23,668 shares of the company’s stock worth $303,000 after purchasing an additional 800 shares during the period. SCS Capital Management LLC lifted its holdings in Permian Resources by 0.6% during the 2nd quarter. SCS Capital Management LLC now owns 141,205 shares of the company’s stock worth $1,923,000 after purchasing an additional 870 shares during the last quarter. Inscription Capital LLC boosted its stake in Permian Resources by 3.5% in the 3rd quarter. Inscription Capital LLC now owns 28,219 shares of the company’s stock valued at $361,000 after purchasing an additional 948 shares during the period. Finally, Rothschild Investment LLC boosted its stake in Permian Resources by 7.1% in the 3rd quarter. Rothschild Investment LLC now owns 14,651 shares of the company’s stock valued at $188,000 after purchasing an additional 974 shares during the period. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Permian Resources

In other news, Director William J. Quinn sold 800,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $19.15, for a total value of $15,320,000.00. Following the completion of the transaction, the director directly owned 7,426,839 shares in the company, valued at approximately $142,223,966.85. The trade was a 9.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Charles Bell sold 158,385 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $18.39, for a total transaction of $2,912,700.15. Following the sale, the executive vice president directly owned 1,567,172 shares of the company’s stock, valued at approximately $28,820,293.08. This trade represents a 9.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 5,340,522 shares of company stock worth $89,069,383. Corporate insiders own 6.44% of the company’s stock.

Permian Resources Price Performance

Shares of NYSE PR opened at $21.19 on Friday. The business has a fifty day moving average price of $18.27 and a two-hundred day moving average price of $15.20. The stock has a market capitalization of $17.72 billion, a PE ratio of 16.95, a P/E/G ratio of 3.07 and a beta of 0.56. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.78 and a quick ratio of 0.78. Permian Resources Corporation has a fifty-two week low of $10.01 and a fifty-two week high of $21.99.

Permian Resources (NYSE:PR) last released its earnings results on Wednesday, February 25th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.09. Permian Resources had a return on equity of 10.83% and a net margin of 18.46%.The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the firm posted $0.36 EPS. Permian Resources’s quarterly revenue was down 9.8% on a year-over-year basis. As a group, equities analysts predict that Permian Resources Corporation will post 1.45 earnings per share for the current fiscal year.

Permian Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were paid a dividend of $0.16 per share. The ex-dividend date was Tuesday, March 17th. This is a positive change from Permian Resources’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a yield of 3.0%. Permian Resources’s dividend payout ratio is currently 51.20%.

Wall Street Analysts Forecast Growth

PR has been the topic of several recent research reports. Bank of America reiterated a “neutral” rating and set a $16.00 price objective (down from $17.00) on shares of Permian Resources in a research report on Friday, January 16th. Truist Financial began coverage on shares of Permian Resources in a research report on Tuesday, March 24th. They issued a “buy” rating and a $24.00 target price for the company. Scotiabank upgraded shares of Permian Resources to a “strong-buy” rating in a research note on Friday, March 27th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $21.00 price target on shares of Permian Resources in a research report on Thursday, February 26th. Finally, Morgan Stanley cut their price objective on shares of Permian Resources from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. Four investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $21.43.

Permian Resources Profile

Permian Resources (NYSE: PR) is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.